UK GDP meets expectations in second quarter

The UK economy grew in line with expectations in the second quarter, figures released on Friday showed.

Britain's GDP grew 0.7% quarter-on-quarter in the three months to the end of June, in line with estimates, while year-on-year growth was 2.6%, unchanged from previous qr and in line with expectations.

“UK GDP for the second quarter was in line with our expectations and, considering so many of Britain’s major trading partners are struggling, it's good news for George Osborne," said Dennis de Jong, managing director at UFX.com.

“Stronger wage increases and low inflation have inspired positive forecasts for the rest of the year, but Osborne will be cautiously looking over his shoulder as exported deflation from China and a strong pound poses a real threat to the UK’s competitiveness abroad.”